Charlotte United Futbol Club Inc

Nonprofit profile at a glance

EIN
561929869
IRS 990 coverage
2016–2017
Forms available
Form 990 2017
Location
Pineville, NC, USA
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Soccer

Official website

Reported finances

Revenue
$1,450,628
Expenses
$1,363,859
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • Bill Finneyfrock (Executive Director)
  • Randy Karriker (Vice President)
  • Matt Rush (President)

Highest reported compensation

  • Bill Finneyfrock (Executive Director): $47,000 total reported compensation
  • Deb Galli (Secretary): $19,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Foster the physical, mental and emotional growth and development of residents of the United states through the sport of soccer at all age levels; More detailed mission statement is at Schedule O.

What it reported doing in 2017

2)Provide opportunities for soccer teams from one area to compete against teams from other aresa of the United States, foreign countries and the state of North Carolina, 3) promote soccer in the United States, 4) recognize the purpose of athletics as being used to promote the physical, emotional, mental, moral, social and civic well being of the individual participants and the area they live in, and 5) promote the activity of soccer in the context that church, school and home comes before sports

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 83
  • Accountability: 58
  • Sustainability: 34
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.3%; rating input score 66
  • Program expense ratio: 70.4%; rating input score 70
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 14th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 4.9%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: -21.6% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -8.6% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: -200% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 66.3% of revenue deployed · 70.4% of spending went to programs
  • Governance: 9 of 12 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $960K in reported program spending
  • Leadership: top reported pay $47K · 12 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2016 to 2017
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.